DON'T TRADE YOUR LIFE AWAY - AUTOMATED CRYPTO TRADING STRATEGIES MADE SIMPLE - Kryll.io
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DON’T TRADE YOUR LIFE AWAY
A zero dev skill automated strategies building platform
A Crypto traders community
A user generated trading tools marketplace
AUTOMATED CRYPTO TRADING STRATEGIES MADE SIMPLE
V 1.7
Mission 3 Executive summary 3 Token Sale Overview 4 Introduction 4 Solution : Kryll Platform 5 Kryll Companion app 7 Exchange Support 7 Architecture, Hosting, Performance & Security 8 Kryll community commitment 9 Smart Token economy 10 Strategy cost 10 Cost governance 10 Community provided strategies 10 Business plan 10 Token Sale Details 11 Why a Token Sale ? 11 Token Sale information 11 Token allocation 12 Found usage 12 Exchange listing 12 Cryptense 13 Team 14 Core team 14 Advisors 15 Human Resources, Consulting 16 Roadmap 16 Milestones 17 Legal 17
Mission « Bring professional trading tools to everyone by providing a simple yet powerful drag’n’drop strategy builder » Executive summary Since 2009, Bitcoin and other cryptocurrencies enjoyed a phenomenal growth in terms of public interest and valuation. Holding investors, professional traders and hobbyists all benefited in their own ways from the amazing opportunities granted by this brave new world. Nevertheless the trading game requires time, technical knowledge, analytical skills, discipline and proficiency using professional tools in order to achieve true success. Crypto traders without all of this missed opportunities or lost a chunk of their assets in the last few years. Now that the Kryll.io platform enters the game, this is changing. Kryll.io is the ultimate platform for cryptocurrency traders who are looking to use the most advanced trading tools and strategies, as well as the combined intelligence of the community in order to achieve the best returns in cryptocurrency markets. The platform provides intuitive ways to create your own trading strategies and set them to execute automatically. Through a What You See Is What You Trade interface you can design trading strategies making use of the industry’s most powerful tools and safely test them with backtesting and sandboxing. Once your tools prove their worth you can set them to live-trade on your behalf, taking the right positions at the right time, as if you’re following the markets 24/7. On Kryll.io you can also rent-out your very own winning strategies that’ll help fellow traders reach the success you did. You will be rewarded with passive income for doing so. The core Kryll team is composed of veteran developers and Internet professionals who’ve all been trading cryptocurrencies as hobbyists for years. With their background and close circle of advisors ranging from economists, business developers, artificial intelligence and semantics analysis experts, they’ve decided to build the right platform for crypto traders. They provide fellow traders with the tools, community and environment they know everyone is longing for.
Token Sale Overview
Start Date 7th of February 2018 at 12 noon UTC
End Date April 20th 2018 - 12:00 noon UTC
Token Name KRL
Token on Sale 40,000,000 KRL
Hard Cap (excl. bonuses) About 8,000,000 USD
Price of KRL Token 0.2 USD
Minimum Contribution 500 KRL
Max Supply 72,000,000 KRL
No tokens to be issued after the sale,
Further Token Issuance unsold tokens will not be generated
Accepted currencies BTC - BCH - ETH - LTC - ZEC - DASH
Introduction
Cryptocurrency trading has been a continuously rising market since the first bitcoin transaction
around early 2009. The next step spawned the birth of new cryptocurrencies and exchanges
where people could trade different currencies. Today there is an active community of millions of
traders exchanging coins in volumes corresponding to >100 Billion USD every single day.
There are dozens of exchanges where people buy or sell bitcoins or so called altcoins, trying to
make a profit from the current market trend, trading channels signals, news feeds or even pure
luck and intuition.
There are communities of hobbyist traders talking in channels like Telegram, Slack or Discord or
on internet forums, who collaborate in the hopes of forging a path through the vast universe or
crypto trades.
We’ve been part of this community for quite a while, and want to offer a tool allowing us to join
forces and all profit from. Historically, the hive mind has always won out.
Crypto trading facts
Hedge funds, professional traders and hobbyists share the same exchange platforms, and
environment but are not quite equal when it comes to resources, manpower, knowledge and
tools.
Indeed, efficient trading requires resources like computational power to run intensive data
models and crunch historical data trends crucial for assessing strategies risk-free. High-speed
connections are needed to reach to exchanges around the world.
Aside from computational resources, trading takes a lot of time, especially for a one-person
team. Preparing the right strategy, having it analyze relevant data and get it ready to execute in a
timely manner 24/7 within moving markets requires special abilities. This is hard enough leaving
aside the discipline of steel and cool head needed to take the right decision at the right time.
Trading is also a very technical domain where your area of expertise needs to span from an
ability to perform technical analyses to machine learning and semantics analyses.
Solution : Kryll Platform
The Kryll.io platform aims to fill in the gaps to get everyone efficient
trading tools.
Introducing WYSIWYT (What You See Is What You Trade) technology,
the Kryll team will provide a simple yet powerful strategy defining
interface based on blocks and flow. A flow visually describes the
confluence of signals, operators and relevant data determining a
particular strategy.
There are 5 main families of blocks that can be used to build a strategy :
Market Trends. They span from the usual trend analysis (volume modification,
price fluctuation, ) to technical data analysis & studies (channels identification,
patterns detection, resistance rejection, demand zone detection) and
modelling (machine learning based market prediction) units.
Trading actions. Like buy, sell, split amount into subsets, hold amount (like
profits), loop, stop...
Signals. Coming from professional traders, qualified Telegram channels or
social network semantic analyses.
Operators. They’re meant to organize data feeds and signal interactions (eg:
IF the market is up AND “BTC” is receiving positive feedback on Twitter ...)
Notifications. To keep you informed of a strategy’s status (this could be a
Figure of block categories
text message, email or smart notification)
Once a strategy has been finalized it’s time to put it to work. Before sending it to the big boy
arena you’ll be able to test it over the 6 months of recorded data - assuming it does not depend
on an external non-reproducible input - using 250+ pairs and a 1 second frequency that will be
available for backtesting.
Another testing modality will be available with our sandboxing option where the strategy is
tested as if it were actually running on the market, but not accounting for the impact it may have
on the market’s actual.
Figure of a full flow & block toolbox When you are confident enough with a strategy’s efficiency you can put it to work in live-trading and inject a small amount of Kryll (KRL) to grease the wheels. Depending on your design and preference, a strategy may run once on your input, for example by buying a coin at market price and optimizing its holding via a 2 steps Take-Profit and Stop-Loss operation. Another might as well just listen to twitter sentiment about your favorite currency to compare it with market data before notifying you of a (probable) dip. Yet another one (many can run concurrently) may automatically stay awake, listening to market ready to buy a coin the second it dips, whenever it may happen so to sell it for a profit and start all over, or send you an alert when the mood is bad on social networs and marker starts dropping. Figure of a “ETH FUD alert” Figure of a “n-step Stop-Loss / Take-profit strategy”
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Kryll Companion app
Once you connect your mobile companion app to the
platform, you will be able to access your dashboard, get
push notifications regarding your strategy runs as well
as stay connected in a much lower-key manner with your
crypto trading status.
It’ll be a pretty good feeling to get notified about a position
that’s been taken automagically and then sold, instead of an
alarming signal pushing you to quickly catch the opportunity
on your favorite exchange website.
Moreover the mobile application will introduce further
interactions with the strategies you designed or selected,
thus giving you complete control over your trades right in
the palm of your hand
Exchange Support
The Kryll.io platform will be interconnected via API to all exchanges that provide one, enabling
you to trade your favorite coin of your choice on your favorite exchange right from the platform.
This massive support will also allow you to use a single platform to manage your entire portfolio’s
strategy.
The first set of supported exchanges includes the following platforms:
Bittrex, Poloniex, Kucoin , Coinbase/Gdax, Cryptopia, YoBit.net, Binance, HitBTC, Bitstamp, Liqui.
Architecture, Hosting, Performance & Security Figure of a full flow & block toolbox Crypto currencies are traded 24/7. Kryll.io supports exchanges all around the world and is committed to making its platform available, efficient and secure. The architecture of Kryll. io encompasses several dedicated servers in Europe, Asia and North America, enabling the execution of strategies in the most efficient way according to the exchange on which they are taking place. The infrastructure is designed so that it will scale automatically, providing maximal performance and up-time for all connected users and strategies being run - whatever the circumstance. Our user data is of the highest value and is why we take security very seriously. In addition to our servers being under permanent DDOS protection, we also plan to have an external security audit every quarter, thereby insuring things are safe and stay that way. The platform will apply the strategies you have designed via the APIs provided by the supported exchanges. Whenever the exchanges allow it, we will make sure that the API key does not allow any withdrawal of funds, thus ensuring your currencies remain safely in your possession.
Kryll community commitment
Kryll.io isn’t just a great platform where you can easily build, test and automatically run your
strategies. We think collective intelligence is a huge asset that’ll make all of us more successful
in the trading market.
Therefore the platform will offer a marketplace section where anyone can share a strategy
build-up (as a blackbox) for others to enjoy in exchange of a KRL fee chosen by the creator and
free of charge from the platform. People with excellent insights, with more time available or a
well-honed intuition can help their fellow traders climb the success ladder.
The marketplace will also feature a chat section related to every strategy for people to interact
in, advise, receive advice from the startegy’s creator or other skilled users.
Strategies featured on the marketplace will be awarded a rating according to their users’ ratings
and internal measures of efficiency performed by the platform.
Because we’ve always placed users at the center of great products, you will be part of Kryll.io’s
life and evolution :
РР Competitions will be organized where people will have to achieve the best performing
strategy given time and block limits for a given set of (past) data. Winners will be rewarded
with krylls for their talent.
РР When we will have released our Block Construction Kit, hackathons will be organized
for developers to congregate and build up future winning blocks we’ll integrate in the
platform(after thorough testing and benchmarking)
РР Our past gaming experience taught us to make it easy and transparent to share results,
achievement on social media
РР Once the first set of 50 blocks we have in mind will have been released, we have a lot more
ideas in the pipeline, and we’d love our community to vote for the next ones to comeSmart Token economy Strategy cost The Kryll.io platform economy relies on its utility tokens (KRL) that can be spent when using a strategy in live trading. Just like each smart-contract execution costs on the Ethereum blockchain depends on the complexity of the code, each live trading strategies execution on the Kryll.io will cost some energy (KRL fractions) depending on the complexity of the task performed. Strategy creation, backtests and sandbox testing will be free for all users. Apart from fractions of KRL spent in the platform to fuel live trading strategies, no further expense will be charged by the platform: no subscription plan, no hidden fees, no commissions on trade, no strategy rent fees… Cost governance Since the token value (as compared to USD) will vary over time, an autonomous decentralised smart-contract will re-assess every 48 hours the energy needed to run the blocks in order to keep it at a fair level for everyone, whatever the value of the token takes over time. Community provided strategies When using a strategy provided by a creator, energy will be sent to the platform to fuel it, as well as an excess of Krylls set by the creator as a reward for the work, Kryll.io will never take a fee on strategy sharing or renting. Business plan The token sale will fund the development of the platform as well as provide marketing power to get onboard new users. After that step, users using it in live trading will pay a fee that’ll be recouped over time to cover the exploitation, maintenance and extension of Kryll.io. Our past entrepreneurial endeavors tell us that 3 years business plans are unreliable given the reality of highly variable environments, which is all the more true in the cryptocurrency world. Nevertheless, we’ve projected one anyways ! Using Bittrex as an example and based on a rough estimate, if there are 0.2% of monthly users on the platform in 2019 spending the equivalent of 6 USD per month in KRL (10 KRL) on average, the operating cost of the platform will be covered. Given this, we will be able to invest a third of the revenue into R&D projects in addition to keeping on innovating on the platform.
Token Sale Details
Why a Token Sale ?
An Initial Token Sale or Initial Coin Offering (ICO) is the event for a cryptocurrency project such
as Kryll.io to sell its cryptocurrency tokens (KRL) to early adopters and enthusiasts in exchange
for funding.
This is an opportunity for Kryll.io to fund the future development of the platform and for the
purchasers of tokens to participate in the early stage of the project.
From the Kryll.io platform’s point of view, it is also an unique opportunity to inform future users
(whether they actually participate in the sale or not) about features they’ll be able to enjoy on
the platform. Moreover, users who’ll have taken part in the Initial Token Sale will benefit from an
early glimpse at the platform when the “funders” version is released.
Token Sale information
Start Date 7th of February 2018 at 12 noon UTC
End Date April 20th 2018 - 12:00 noon UTC
Token Name KRL
Token on Sale 40,000,000 KRL
Hard Cap (excl. bonuses) About 8,000,000 USD
Price of KRL Token 0.2 USD
Minimum Contribution 500 KRL
Max Supply 72,000,000 KRL
No tokens to be issued after the sale,
Further Token Issuance unsold tokens will not be generated
Accepted currencies BTC - BCH - ETH - LTC - ZEC - DASH
Users registered and having participated in the token sale will be invited to the alpha (dubbed
“funders edition”) version of the platform.
Bonus plan
Feb 07 - Feb 08 Feb 09 - Feb 12 Feb 13 - Feb 19 Feb 20 - Feb 26 Feb 27 - Mar 05 Mar 06 - Apr 20
30% bonus 25% bonus 20% bonus 10% bonus 5% bonus No bonus
Extra “kryllangelist” bonus will be available using personal referral link provided to each
registered user.Token allocation
Funds usage
- 54% : Platform development
- 18% : Marketing expenses, user acquisition
- 15% : Exchange partnerships
- 09% : Operational costs, office, hosting
- 03% : Security reserve
- 01% : Legal expenses
Exchange listing
After the Token sale, the team will work with the following exchanges in order to have the token
listed, so that every trader that hasn’t bought tokens through the initial token sale will still buy
some and hence use the platform in live trading :
Cryptopia, KuCoin, HitBTC, BittrexCryptense The Kryll project is held by Cryptense S.A.S, a company registered in France. Cryptense S.A.S is a Blockchain company based in the European technology park of Sophia Antipolis in the south of France. Funded by 3 crypto-enthusiasts, Cryptense embraces the opportunities and challenges offered by the blockchain revolution. The company has activities around three main pillars: cryptocurrency mining & optimisation, Blockchain contribution expertise & consulting, and development of automated crypto trading tools. In December 2017, Cryptense has raised 200 000 euros from private investors in order to strengthen its foundations before the Kryll Token sale. Those funds will be used mainly to finance early developments of the Kryll platform and the sale marketing program.
Team Core team Luca BENEVOLO : CEO / Founder / Architect Working for more than 12 years in the IT industry as an R&D Expert and entrepreneur, Luca is a crypto enthusiast, blockchain contributor and has traded cryptocurrencies for several years. After co-founding the game studio Moving Player 8 years ago, he co-founded Cryptense to fulfill his crypto-passions. Jeremy BLOT : Community Manager Jeremy is a webmaster and freelance digital marketing specialist operating in the Web sphere since 2005. He is an active crypto trader, always keen to discuss new opportunities with his network of expert enthusiasts on Twitter, Telegram or Discord chans. Paul COLLORAFI : CMO / Strategist Paul is a seasoned owner of high-frequentation websites and SEO consultant. He’s been an entrepreneur since 2006, crypto trader and investor since the early days, ultimately finding the right place for his views and solutions to his frustrations within the Kryll.io platform. Philippe LONGERE : CTO / Founder After an academic background in France and California, Philippe fell into entrepreneurship into entrepreneurship 17 years ago, co-founding Moving Player and Cryptense with Luca. Crypto trader since 2016, he has developed several trading bots for himself and his friends, but knew their reach would be much broader and impactful given the right platform. Fabien MABON : Backend Expert In the Internet industry since the 1990s, Fabien has developed, deployed and maintained backends for high-volume streaming sites and several startups. He entered the crypto trading world in force alongside the birth of Ethereum, and never looked back ever since. Lisa PONS : Marketing Officer / PR After finishing her business degree, Lisa went into sales & marketing for IT or mainstream products,in addition to pursuing her volunteering mission like the organization and overseeing of hackathons in the Nice (French Riviera) area. Francis PRAT : Artistic Director Francis has created unique visual profiles for small to medium sized companies from Europe to South America. He is be responsible for the unique look and feel of the Kryll platform. Jay SALVAT : Frontend Expert Jay has worked on providing the best UI/UX experience on the web for the last 20 years. From Global 500 companies to startups, they’ve all praised his talent, and his open-source contributions. He will put his skills into making Kryll the simplest yet most powerful trading platform there is.
Advisors Thomas HERLIN : Business Development Accelerator at EIT Digital Thomas has been an entrepreneurship since the 90s, having founded, advised, and/or developed several startups from the ground up all the way to their acquisition. Now at EIT Digital he’s accelerating startup growth on a continental level. He will be sharing his knowledge of business development and his network with Kryll.io to make it a success. Nicolas IVALDI : Lawyer with EY / Founder at Ventury Avocats Nicolas has helped with the creation of dozens of startups, their funding or their acquisition. Nicolas is being involved in Cryptense’s early fund-raising and will continue to lead the legal aspects of the platform’s development and business. Clement LAFORET : Scalability Expert / FreeBSD Contributor Senior system administrator, Free BSD Guru and advocate, Clément is in charge of high availability infrastructures dealing with Terabytes of data everyday. He will help us design Kryll.io infrastructure and provide a platform that is always up and running. Millie TAING : Founder at lili.ai Millie decided to merge her knowledge in finance and project management and machine learning into an award winning business she founded 18 months ago : lili.ai. She will be our eyes, ears and voice of reason when it comes to Artificial Intelligence development applied to cryptocurrencies Sylvain THEVENIAUD : Managing Director at Allianz Accelerator Sylvain has been involved in business development and innovation growth for the last 15 years. He fulfilled this experience by becoming the Director of the Allianz Accelerator where he has been involved in the growth of Fintech and Insurtech’s companies such as Qualisteo and Finsquare, and even Ledger (a crypto trade’s favorite). His experience and network will be precious for Kryll.io’s growth. Raphael TRONCY : Head of the Multimedia Semantics group at EURECOM Raphaël has been working in the field of semantics analysis for almost 20 years, and is a leader at Eurecom’s internationally renowned research on sentiment analysis. He will be the link between Kryll’s R&D activities on semantics analysis and the academic world. Jerôme CHIFFLET : Innovation manager with Orange Labs Research Jerôme is involved in Research and Innovation at Orange and has been working on developing partnerships and co-business with smaller companies. His clear view of ecosystems in small and large enterprises will help scale Kryll.io’s strategic positioning. Patrick MUSSO : Professor of Economics Former director of the GREDEG (Economics research unit of the CNRS), Patrick shares his knowledge in economic sciences with his graduate students and participates in top-end research studies within the field. He is our direct connection with scholarly research in economics, providing the most relevant and innovative technical analysis for Kryll.io. Pui-Ching CHAU : Asian Market Consultant Always at the forefront of technological innovation, inspired by finding new ways to combine technologies and innovation, Pui-Ching has put his creative thinking at the service of many sectors such as Banking and Insurance.
Human Resources, Consulting
Apart from the Core Team which will take part in the development of Kryll as a product, we plan
to get at least four more people on board as well a collaborations with experts (most of whom
are already advisors). This will mainly be in the domains of :
- security, because that has to be one of the main concerns for any online service
- deep learning to build the best models
- semantic analysis to be able to extract trends (sentiment analysis) from social
media feeds
- trading to enhance technical analysis blocks provided through the platforms
- pro-traders to provide the best signals
Roadmap
2018
07 FEBRUARY 2018 - 06 MARCH 2018
Early adopters token sale with bonus (30 to 5%)
06 MARCH 2018 - 20 APRIL 2018
Token sale without bonus
Early prototype demonstration
MAY 2018
KRL Token emission on ethereum blockchain
SUMMER 2018
Kryll.io Funder Edition
Closed Alpha version for token sale investors
NOVEMBER 2018
Kryll.io Companion App
Alerts, launchers, metrics, orders...
DECEMBER 2018
Kryll.io Open Beta Version
2019
EARLY 2019
Kryll.io V1 Release
SUMMER 2019
Kryll.io Enhanced Edition
Advanced Technical Analysis, Machine learning
2020
EARLY 2020
Kryll.io Open SDK — Worldwide HackathonsMilestones
The token sale will fund the development and maintenance of the Kryll platform, with several
other milestones that will depend on the final funding amount :
РР Machine learning applied to market analysis
РР Advanced Technical Analysis
РР Tools (browser extension, extended mobile companion app, wallet, …)
РР Social plugins (next block voting system, social sharing, embedded statistics, iframes...)
РР Block Construction Kit & Hackathons
РР White label exchange extension
Legal
Participating in an ICO is a high-risk activity. This ICO in particular is only aimed at experienced
professionals who are used to blockchain technology and cryptocurrency trading. By participating
in this ICO, the purchaser is aware and accepts the risks related to security, the potential lack of
technical and economic results and the total or partial loss of its capital.
Finally, the purchaser declares being aware of the legal uncertainty of this type of transaction and
to have conducted his own legal guidance according to the applicable law to which he subscribes. A
table is available in the appendix containing the warnings from the main regulators around the world.
Rights and liabilities or other damages whatsoever in the type;
Any buyer purchasing KRL token acknowledges the 4. The loss of control, any reason (loss, hacking, unwanted
technological and economical uncertainty of the project disclosure or technical failure), of the users’ login
credentials which would lead a fraudulent use of the
presented in this White Paper. As any experimental
tokens;
project, Kryll.io may never produce a result or could be
5. The temporary or permanent suspension of the service,
abandoned.
whatever the cause, and especially due to a request from
Therefore, purchasers are aware of the absence of any the public authorities, judicial authority or any third party;
legal action against the company in case of failure, non- 6. Computer failure resulting in loss of data, including content
performance or non implementation of the project, as in case of impact for the professional activity of users;
well as in the case of the KRL token losing part or even 7. Lack of compatibility between the service specificity and
the totality of its value. the customers requirements;
Purchase of the KRL token confers the ability to use 8. Generally, all damage whose cause does not depend on the
the coming Kryll.io platform services. No other rights company: Internet network outage, failure specific to the
are transferred upon the ICO. Precisely, the company’s user’s equipment, etc.
only obligation is to distribute the KRL token under the
Warning about the token
conditions defined in the White Paper.
According to the french and european regulation, the KRL
During the ICO, the company may not be held liable for
token is a cryptographic token usable on the Ethereum
any of the following :
blockchain and allowing, in the long term, to access the
functionalities of the Kryll.io platform.
1. Use of the service that are not compliant with the
applicable terms; The KRL token is not a security or a financial instrument
2. An error, malfunction, malicious action or violation of within the meaning of the Markets in Financial Instruments
White Paper’s terms by the user, a third party or a service Directive (MiFID II) of the European Parliament (2014/65/
controlled by a third party; EU) or within the meaning of the article L211-1 and
3. All direct or indirect damage that may occur during the followings of the French Monetary and Financial Code.
operation: cryptocurrency losses, profits or financial lossesIndeed, the token grants no financial (income, capital or unusable.
dividend) or voting rights in the company. - Security risk : the buyer understands and accepts the risk
The token is a crypto-asset issued by Kryll.io through the of losing his total investment due to a security breach. If the
ICO and used by the members of the Kryll.io platform and company makes every effort to ensure the ICO safety, the
community. experimental nature of the operation does not exclude the
realization of financial or IT damages. It is recommended
that the buyer take all measures to ensure the safety of
Sales restrictions
his tokens and cryptocurrencies.
The participation in the ICO is strictly reserved for natural or
- Legal risk : The ICO have been structured to comply with
legal persons acting within the scope of their professional
the current regulations and good practices applicable.
activities. Especially, the professional purchaser claims
Nevertheless, the governing law of ICO is under construction
to have a good knowledge of blockchain technologies
around the world. The company can not be held liable
and cryptocurrency. Any natural person acting on a
in cases where restrictive regulations, injunctions by
non-professional basis as a simple consumer within the
regulators, investigation or laws having an impact, in
meaning of EU Directive 2011/83/EU relating to consumer
particular, on the issue, management or possession of
rights is excluded from the ICO. It is the responsibility of
token were to be adopted. In addition, the rules applicable
each purchaser to determine its non-professional status
to cryptocurrencies or tokens are different in each country.
and, in doing so, to refrain from participating in any way
This is why buyers are strongly advised to do a legal and
in the ICO.
tax analysis prior to their participation in the ICO.
Due to national legislation, participants from the following
- Risk of theft and piracy : The company can not be held
countries are not allowed to participate in the ICO, except for
responsible for acts of hacking (infiltration, defacement or
accredited investors: “US person”, Canada, South Korea and
DDoS) or computer theft that would affect the funds, the
China. This prohibition applies to all types of people (moral,
distribution of tokens or the smooth roll of the ICO.
physical, agent, etc.) and to any indirect participation (via a
- Risk of error or weakness : The company can not be held
proxy, a name loan, etc.).
responsible for discovering a weakness in the cryptographic
By participating in the ICO, the purchaser agree on the
processes implemented in the context of the ICO. Similarly,
legal disclaimer and, especially, that he respects the above
the buyer declares to accept and understand the risk of
provisions.
error in the code of the smart-contract, the trust account
Warning about the ICO inherent risks (multisig wallet) or the software used for the ICO.
ICOs are high-risk operations because of their completely
Know Your Customer (KYC) and Anti-Money Laundering
experimental nature. By participating in this operation, procedure
participants declare to understand and assume the
following risks: As part of the Know Your Customer procedure (KYC),
- the lack of regulation : the purchaser agrees not to benefit anyone who would like to purchase KRL tokens will have
from any guarantees associated with IPOs on regulated to provide to the company the following details via the
financial markets or other regulated financial investments; dedicated ICO website :
- capital loss : the purchaser accepts the risk of a total or the declaration of :
partial capital loss in cryptocurrency or in token; • First and last name
- Volatility or market risk : the value of tokens, just like that • Date and location of birth
of cryptocurrencies in general, can be extremely volatile • Current address
and subject to significant, and largely unforeseeable • Citizenship
fluctuations. Moreover, the market or markets on which • A copy of passport or ID card.
these tokens are traded do not offer the same guarantees
that are generally applicable to conventional financial According to the good practices that the company applies,
markets. It is also quite possible that no resale market a process against money laundering is implemented on
develops for the tokens, meaning that the purchaser may the ICO. The company reserves the right not to transfer
be either unable to sell them or have to sell them on token to people whose origin funds have not been verified
unsatisfactory terms. or will be negative. In this case, the person will be refunded
- Very early stage project : ICO aim to finance an innovative his funds in cryptocurrency.
project based on a new technology and whose future
evolutions are unpredictable. Therefore, the buyer accepts The AML process consists of a check on the global lists
the risk of non-fulfillment of the project for technical, of Politically Exposed Persons as well as on the assets-
economic or legal reasons. freeze list. The company reserves the right, on a case-
- Ethereum Protocol : the token is developed on the by-case basis, to request additional documents to justify
Ethereum protocol which is still at an experimental stage. the buyer’s income origin, otherwise to not continue the
Therefore, the buyer understands and accepts the risk that business relationship.
an evolution of the protocol renders the token or serviceApplicable law and jurisdiction
This White Paper and any contractual relationship arising in relation with the ICO are governed exclusively by French law.
The Parties agree to seek an amicable settlement prior to bringing any legal action. Failing this, any dispute, of any nature
whatsoever regarding the Commercial Operation, will be brought expressly before the court with jurisdiction over Kryll.
io registered headquarter.
Legal appendice : Recent regulatory actions
Country Legal framework Effective date
China Warning from People’s Bank of China (PBC) November 15th, 2017
South Korea Warning from the Financial Securities Commission (FSC) September 28th, 2017
Russia Sets a cap on the amount raised at an ICO August 24th, 2017
Regulation of Initial Coin/Token Offerings and Virtual Currencies
Abu Dhabi August 28th, 2017
under the Financial Services and Markets Regulations (FSRA)
Germany Warning from the Federal Financial Supervisory Authority (BaFin) November 13th, 2017
Warning from the Australian Securities & Investments
Australia October 26th, 2017
Commission (ASIC)
Canada Warning from the Canadian Securities Administrators (CSA) September 5th, 2017
USA Warning from the Securities and Exchange Commission (SEC) August 30th, 2017
Warning from the European Supervisory Market Authority
European Union October 27th, 2017
(ESMA)
France Discussion paper from the Financial Market Authority (FMA) September 12th, 2017
Hong-Kong Warning from the Securities and Futures Commission (SFC) November 14th, 2017
Israel Warning from the Israel Securities Authority (ISA) September 29, 2017
Japan Warning from Financial Services Agency (FSA) October 27th, 2017
UK Warning from the Financial Conduct Authority (FCA) September 12th, 2017
Switzerland Warning from the Financial Market Supervisory Authority (FINMA) September 29, 2017You can also read
